Senator Moreno, prime bill sponsor, presented House Bill 23-1243 concerning establishing corrective action procedures for hospitals that fail to meet the minimum community investment threshold. The bill also restricts out-of-state spending and transactions for covered hospitals, with the amount spent out of state not to exceed the total margins earned in Colorado.
Finally, the bill places reporting requirements on hospitals that participate in the Hospital Community Benefit Program and requires HCPF to review the reports and conduct a stakeholder meeting. As part of these requirements, the bill requires the Office of the State Auditor to calculate the federal, state, and local tax exemption received by each hospital. HCPF can enforce compliance with the bill through fines and additional reporting requirements.
Committee members asked the bill sponsor questions.